Trade goal setting
How many trades will you average per day? What is your maximum? How many points do you want to strive for per trade?
Personal growth goal
Your personal growth should be to maintain a solid mental and emotional foundation and constantly improve knowledge and skill. The goals could also include both trading and non- trading related books to read. Table 2 is a list of recommended titles on technical analysis and trading.
Determine the financial commitment you will make to your business which includes account start-up capital. Your financial commitment to your trading account
This is the amount of time you invest in your trading business each day, which for some traders might be just a few hours, five days per week, and for others it could be 14 hours per day, six days per week.
Trading Analysis will be done on a daily basis. Both the end- of-week and monthly analysis will take place anytime between Friday and Sunday evenings.
It is important to keep a record of all your trades. Keep a daily sheet noting daily P&L and open positions. Closed profit and loss will also be tracked on a weekly and monthly basis.